Korn/Ferry net income falls 11% on revenue gain
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Executive recruitment firm Korn/Ferry International Inc. said fiscal third-quarter profit slipped 11% from a year earlier.
Net income fell to $14.7 million, or 33 cents a share, from $16.6 million, or 37 cents, a year earlier. Excluding a one-time gain on an investment last year, earnings in the third quarter of 2006 totaled 27 cents a share.
Revenue was $173.5 million in the three months that ended Jan. 31, up 27% as fee revenue jumped.
Analysts polled by Thomson Financial expected earnings of 32 cents a share on sales of $163.3 million.
Shares of the Los Angeles company fell 6 cents to $22.76.
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